To think there is a level of wealth that is ethically ok.

[Alanis126]

Firstly by developed world standards I'm by no means wealthy. I waa speaking to a friend about how supposedly if you shared all the world's wealth equally everyone would have £10,000. Clearly this will mever happen, but it does make me wonder hiw much is too much? Surely it can't be right that the 26 wealthiest people in the world own as much as the bottom 50%. But then by extension do we all have a moral responsibility to give away our net worth to help alleviate the desperate poverty in the world? It is always easy to use those with vast amounts more than you as a reason for inaction. I say to myself I've worked hard and having a nice if simple house and travelling and enjoying life a bit isn't a crime, but perhaps this isn't right? Just wondered what you thought..

But then by extension do we all have a moral responsibility to give away our net worth to help alleviate the desperate poverty in the world?

To alleviate the poverty, you have to deal with governments, some of whom have different priorities than alleviating the living conditions of their populace. we have been pouring money into Africa since I was about 10 (am now 53), and nothing much seems to have improved in that time...and surely it should have done.

I once donated some of my my marking money to a a charity to help with Sudan. Dh was cross, sat me down, and explained very clearly that I had thrown that money away, as the amount that went on bribery and corruption was huge. The money I had donated would not reach those for whom it was intended.

Initiatives like the anti malaria one by Bill Gates, which is something concrete to improve lives, is perhaps better than alleviating poverty (which is fairly general), as you need to define poverty first.

I'm a capitalist. If you earn it honestly it's yours to do with as you please. If you give to charity it's your call and It's unethical for people who have not earned it to try to find ways to take it from you so they can have it.

Well I think I get both points but surely as someone pointed out recently nobody needs to be a billionaire? I just don't get how say Bill Gates doesn't give most of gis wealth away now, I know it sounds naïve but isn't he choosing to keep people poor by not giving it away?

I agree with you OP - a certain level where you can have holidays and somewhere nice to live and some savings is one thing, obscene wealth where you couldn't even spend all you have while others are starving is morally wrong.

We live in a society and it's right that we should take care of elderly, disabled, children, unemployed people etc.

Wow, I don’t think I’d stay married to someone who sat me down to explain things.

we have been pouring money into Africa since I was about 10 (am now 53), and nothing much seems to have improved in that time...and surely it should have done.

Although corruption may play a part, I believe - I have not looked into this in any detail so this is a really surface detail comment - that the world bank has set things up where African countries have to pay back loans with such high interest that they are locked into having v poor chances of becoming prosperous.

Cinnamon that's more or less my thinking too. But I look at someone like Jacob rees-mogg and think "how can you be a devout Catholic and be worth £120 million?". Aren't you supposed to alleviate poverty? I don't mean pauperising yourself but he could give away 95% of his net worth and still be a multi millionaire. That I really struggle with.

Bluntness interesting comment. But I don’t agree.
I don’t think earning something ‘honestly’ necessarily makes it moral.
At all.
Just because it abides by the laws of the land, it’s not necessarily been earned in a righteous way.

@Alanis126

You do know that Bill Gates is giving away most of his money.

I agree OP. It's just greed, pure and simple

@scaryteacher

On the nothing seems to improve front, have you checked?

www.bbc.com/future/article/20190111-seven-reasons-why-the-world-is-improving

but surely as someone pointed out recently nobody needs to be a billionaire? I just don't get how say Bill Gates doesn't give most of his wealth away
It's easy to blame other people.
How do you think that Bill Gates got rich? - it's by a lot of people buying his product. Ditto footballers, film stars, pop stars, owners of Amazon, Sky etc. You can't voluntarily give them your money then complain that they are rich!

I just don't get how say Bill Gates doesn't give most of his wealth away

He does and he will. He has been vocal in the past that his kids get a decent sum but not enough to retire on and that after his death almost everything goes to charity. Can you say the same about yourself? I can't. It's easy to point out the rich guy but percentage wise he is probably doing a lot more for charity than most of us.

how can you be a devout Catholic and be worth £120 million?". Aren't you supposed to alleviate poverty?
😂 If the Church starts first.... like paying taxes.
Have you heard how much the church of England brings in a year? A billion. BILLION. Their net worth is staggering. They have shares in companies such as BP and Google.

I'm a capitalist. If you earn it honestly it's yours to do with as you please. If you give to charity it's your call and It's unethical for people who have not earned it to try to find ways to take it from you so they can have it.

When you say people who’ve not earned it - I assume you’re happy to pay taxes to support people who are unable to work for whatever reason?

The issue for the church is they also have huge liabilities.
They are responsible for a huge number of pensions, ancient listed buildings, etc
They own a lot of property, but they have to have Vicars living in it.

I don’t believe that earning money honestly should be punished. However, there is an inherent systemic problem if a segment of the top wealthy people (who may by the way never worked but only inherited but that is by the by) are able to use their wealth and power to rig the rules of the economy to protect and expand their wealth and power at the cost of everyone else. Think a Philip Green whose Monaco based wife is supposedly the owner of Topshop. Who paid himself millions if not billions of dividend leaving a bust company without pension fund. People who are no match for the underfunded (tax) authorities. People who buy property in London hiding behind shell companies. The Panama paper people. People who pay less tax than their secretaries because their income is investment based not work income. And I find it incredible how people are so against a small wealth tax on the 0.1% of the top 1% who have over 20 million or so (which would certainly not reduce much in their living standards) while they are perfectly happy to agree to what amounts to a much more impactful wealth tax for say people later in life who need to sell their assets and house before they can access care or benefits. Talk about fair? And then what about the secret undemocratic political influence some of the uber-wealthy exert over our democracy. So yes, in my view there is something that must be much more transparent and much more fair. Because the basic underlying principle of capitalism is that the system is fair and not rigged. It no longer is.

I think it's fine to be a millionaire but being a billionaire is a whole new level. That's just an obscene amount of money that no one needs at all.

Obviously some people can't help becoming mega wealthy and did it through being talented rather than screwing people over (eg JK Rowling or Paul McCartney) but I couldn't live with myself if I were a billionaire and didn't do something to help all those people with nothing. I'd much rather be someone like Rowling who dropped off the rich list for giving away so much money.

Earning money shouldn’t be punished, there needs to be a reward for the risk, long hours and stress it takes to build a business.

Without the reward there is no point in the hard work

scaryteacher
Poverty has decreased massively in Africa.

Earning money shouldn’t be punished

No one is saying that.

It's unethical for people who have not earned it to try to find ways to take it from you so they can have it.

I many cases they have earned it though. If a boss takes 100% of the profits from a company while leaving the staff working for him/her in poverty something needs to change.

If you're worried about the poor just don't vote Tory op.

DameSylvie As I've been married to him for 33 years now, I evidently can deal with it! He'd been doing something with work (HM Forces) that made him very aware of what went on.

Inniu Things have not improved in parts of Africa - Sudan for example; Zimbabwe; S. Africa seems on a knife edge.

I think wealth is fine as long as you do something positive with it. You don't have to give it away, but you can help, like Bill Gates does, with targeted initiatives. The new Duke of Westminster is following in his Dad's footsteps here: www.cheshire-live.co.uk/news/chester-cheshire-news/duke-westminster-doubles-donation-military-16211277

I think it's fine to be a millionaire but being a billionaire is a whole new level.
I actually think it's fine being a billionaire as well. Just don't go to huge lengths to avoid you taxes (why would you anyway?) and make your employees who helped you get there get their fire share of the spoils.